I don't think baltop should be removed, as that would take the fun out of earning money for many players. Sure, maybe less people would grind money just for the sake of being rich, but if that's their only goal, what's the problem? It really doesn't matter if someone owns 5mil if they're never going to use it. And if they are planning to spend it, removing baltop wouldn't stop them from grinding money.
I don't believe you've read the original post, the suggestion was that instead of baltop showing current player wealth, it will show how much money someone has voluntarily removed from their balance, people who like the prestige of being number one on the leaderboards will now have to sacrifice some of their current wealth to achieve that, instead of hoarding large sums of money. The idea is to remove as much money from the economy as possible whilst retaining the ability to flaunt your wealth.
I don't really like the sound of that either, and like I said, what's the point? Rich people who don't use their money aren't the problem here.
People who are rich are often more carefree with their money if they need something, they are more likely overpay for items and therefore distribute more money to other players overtime. It's not like you're unable to flaunt your wealth anymore. You're doing quite a bit of assuming as to what people will do or won't do with their money. If someone like Joel is willing to get up to 8000 MCMMO repair, why wouldn't they throw away some of their excess money to pursue leaderboard ranking? this is actually an idea from a game called runescape 3, and for some context that game is 20 years old and it still has a thriving community, they had to get creative with ways for ways players can spend their money on. I'm not sure why you are against this idea, I'd prefer if you elaborate on why that is.
Ultimately what it comes down to is adding the ability for players to use resources in order to get levels, repair is an excellent examples of this, and if there were more skills like it, it would help the economy survive. However pigmen farms are completely destroying the need to train repair using diamonds.
However I don't quite agree with completely removing /baltop, I'd prefer the idea I have suggested, this removes money from the economy and allow people to flex their wealth, I think it's a good comprise, however if this is a form of technical issue I understand it may not be possible.